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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets still aren't pricing in a recession, says NewEdge Wealth's DawsonKevin Gordon, Charles Schwab senior investment strategist, and Cameron Dawson, NewEdge Wealth chief investment officer, join 'Closing Bell' to discuss what's priced into the markets, Wednesday's price action and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full post-market discussion with Virtus' Joe Terranova, Schwab’s Kevin Gordon and OptionsPlay's Jessica InskipVirtus' Joe Terranova, Charles Schwab’s Kevin Gordon and OptionsPlay's Jessica Inskip join 'Closing Bell: Overtime' to discuss Airbnb earnings, the Fed and market's response to this morning's CPI data.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt doesn't need to be a massive recession this year, says Charles Schwab’s Kevin GordonKevin Gordon, Charles Schwab senior investment research manager, joins 'Closing Bell: Overtime' to offer his view on recession, the labor market, and the economy.
New York CNN —‘Tis the season for Wall Street strategists to pack their clients’ inboxes with market predictions for 2023. Market analysts aren’t alone. “US equity returns will be driven by earnings against a backdrop characterized by elevated market volatility,” write JPMorgan analysts. The effort was initially touted as a “Big Bang 2.0” — a nod to the rapid deregulation of UK financial markets under former Prime Minister Margaret Thatcher in 1986. The changes are a bid to maintain London’s role as a global financial hub after Brexit, which, alongside political turmoil, has boosted uncertainty for companies thinking about where to invest.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Solus' Dan Greenhaus, BNY's Alicia Levine and Charles Schwab’s Kevin GordonSolus' Dan Greenhaus, BNY Mellon’s Alicia Levine and Charles Schwab’s Kevin Gordon join 'Closing Bell: Overtime' to discuss the Fed, tech and their market outlook heading into year end.
Earnings have been strong: So far, S&P 500 earnings growth has been better than expected. We also saw solid earnings from Apple (AAPL) and record profits from oil giants Chevron (CVX) and Exxon Mobil (XOM). Companies are beating earnings estimates for the third quarter by 1.8% in aggregate, according to FactSet data. More than 50 S&P 500 companies have lowered earnings per share expectations for the fourth quarter, according to FactSet data. Fourth quarter earnings per share predictions have been revised down by 4.3% since October 1, according to Bank of America analysts.
Watch CNBC’s full interview with Charles Schwab's Kevin Gordon
  + stars: | 2022-11-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Charles Schwab's Kevin GordonKevin Gordon, Charles Schwab senior investment research manager, joins the 'Halftime Report' to discuss inflation and the Fed ahead of its rate decision.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's hard to embrace the rally until there's a material rollover of rates, says Charles Schwab's Kevin GordonKevin Gordon, Charles Schwab senior investment research manager, joins the 'Halftime Report' to discuss the Fed ahead of its rate decision.
It wants to achieve a soft landing — that Goldilocks ideal of cooling the economy enough to bring down prices but not enough to cause a recession. The new aim appears to be for a so-called growth recession: A prolonged period of meager growth and rising unemployment. The pain is sharper and lasts longer than that of a soft landing, but a “growth” recession doesn’t pull the entire economy into contraction the way a proper recession would. It looks like a recession, and feels like a recession, but it isn’t a recession — at least not officially. A growth recession is still painful.
A specialist trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2022. REUTERS/Brendan McDermidNEW YORK, Sept 23 (Reuters) - A week of heavy selling has brought U.S. stocks and bonds to fresh bear market lows, with many investors bracing for more pain ahead. Goldman Sachs, meanwhile, cut its year-end target for the S&P 500 by 16% to 3,600 points from 4,300 points. Kevin Gordon, senior investment research manager at Charles Schwab, believes there is more downside ahead because central banks are tightening monetary policy into a global economy that already appears to be weakening. A recession would likely push the S&P 500 to trade between 3,000 and 3,500 in 2023, Jolly said.
The S&P 500 is down more than 22% this year. If the S&P 500 closes below the mid-June low in the days ahead, that may prompt another wave of aggressive selling, Stovall said. Goldman Sachs, meanwhile, cut its year-end target for the S&P 500 by 16% to 3,600 points from 4,300 points. "The increased probability of breaking the June S&P 500 price low may be what it takes to invoke even deeper fear. A recession would likely push the S&P 500 to trade between 3,000 and 3,500 in 2023, Jolly said.
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